Wednesday, 1 October 2014
Last updated 10 hours ago
Mar 26 2010 | 4:01am ET
Ponzi scheme victims would have recourse to millions in new tax breaks under a bipartisan proposal introduced yesterday in the U.S. Senate.
The measure, sponsored by Sens. Charles Schumer (D-N.Y.) and Jon Kyl (R-Ariz.), would extend the tax breaks to indirect investors in Ponzi schemes. Currently, indirect investors are eligible for neither existing tax breaks nor to file claims with the Securities Investors Protection Corp. That would be a boon to thousands of investors who lost money in Ponzi schemes through their investments in pension funds, funds of hedge funds or feeder funds—such as many victims of the Bernard Madoff scandal.
The bill would also extend tax breaks—previously available only to victims who lost money only in taxable accounts—to users of pre-tax individual retirement accounts.
The relief would be available to victims of Ponzi schemes uncovered in 2008 and 2009, but might not cover frauds uncovered this year.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...